I discovered the same after buying their module. I got my money back since the product ad on eBay didn't show the protruding key. I didn't risk using it by cutting off the key. I'll wait and see the final CPU & TPM requirements for W11 or if there is a fix if TPM 2.0 is needed. I was planning an upgrade anyway and am happy to wait to see the final W11 requirements. Component prices might have reduced too.
I bought that Foxconn TPM 1.2 module module, cut the key off & fitted it to my Gigabyte Z170 motherboard.
I had to enable the TPM module in BIOS & also enable Intel PTT before it was recognised at all - after which it apparently has given me TPM 2.0 (according to both BIOS & Windows 10).
Whether it gets me the release version Windows 11 installed remains to be seen - but for £3 it was worth a punt.
(Enabling Intel PTT on its own was also ineffective as my CPU apparently does not support it)
Quote